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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ (16,678) $ 38,844
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 9,578 9,283
Amortization of deferred financing charges 244 358
Deferred income 365 (244)
Operating lease expense adjustment (55) (264)
Loss on disposition of assets, net 0 421
(Gain) loss on extinguishment of debt 641 (46,999)
Provision for bad debts 106 365
Stock-based compensation expense 1,828 166
Changes in operating assets and liabilities:    
Accounts receivable (625) 1,528
Property tax and insurance deposits 2,720 3,187
Prepaid expenses and other 1,633 1,876
Other assets (1,333) (332)
Accounts payable and accrued expenses 1,700 (5,235)
Federal and state income taxes receivable/payable 251 210
Deferred resident revenue 0 143
Other current liabilities 26 (43)
Net cash provided by operating activities 401 3,264
Cash flows from investing activities:    
Acquisition of new communities (12,342) 0
Capital expenditures (5,582) (2,108)
Net cash used in investing activities (17,924) (2,108)
Cash flows from financing activities:    
Proceeds from notes payable 80,000 1,148
Repayments of notes payable (90,579) (3,406)
Cash payments for financing lease and financing obligations 0 (17)
Dividends paid to Series A preferred stockholders (718) 0
Deferred financing costs paid (2,137) 0
Net cash used in financing activities (13,434) (2,275)
Decrease in cash and cash equivalents and restricted cash (30,957) (1,119)
Cash, cash equivalents and restricted cash at beginning of period 83,573 22,867
Cash, cash equivalents and restricted cash at end of period 52,616 21,748
Cash paid during the period for:    
Interest 7,076 7,740
Income taxes 3 $ 3
Non-cash investing and financing activities    
Dividends payable to Series A preferred stockholders $ 1,133